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C. 23
To: Board of Supervisors
From: INTERNAL OPERATIONS COMMITTEE
Date: December  18, 2018
The Seal of Contra Costa County, CA
Contra
Costa
County
Subject: RECOMMENDATION FOR APPOINTMENT TO THE TREASURY OVERSIGHT COMMITTEE

APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE

Action of Board On:   12/18/2018
APPROVED AS RECOMMENDED OTHER
Clerks Notes:

VOTE OF SUPERVISORS

AYE:
John Gioia, District I Supervisor
Candace Andersen, District II Supervisor
Diane Burgis, District III Supervisor
Karen Mitchoff, District IV Supervisor
Federal D. Glover, District V Supervisor
Contact: Julie DiMaggio Enea (925) 335-1077
I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board of Supervisors on the date shown.
ATTESTED:     December  18, 2018
David Twa,
 
BY: , Deputy

 

RECOMMENDATION(S):

APPOINT Parm Sandhu to the Board of Supervisors Alternate seat on the Treasury Oversight Committee to complete the current term that will expire on April 30, 2022.

FISCAL IMPACT:

No fiscal impact. Committee members receive no compensation for their service.

BACKGROUND:

In 2013, IOC reviewed Board Resolution Nos. 2011/497 and 2011/498, which stipulate that applicants for At Large/Non Agency-Specific seats on specified bodies are to be interviewed by a Board Committee. The IOC made a determination that it would conduct interviews for At Large seats on the following bodies: Retirement Board, Fire Advisory Commission, Integrated Pest Management Advisory Committee, Planning Commission, Treasury Oversight Committee (TOC), Airport Land Use Commission, Aviation Advisory Committee and the Fish & Wildlife Committee; and that screening and nomination fill At Large seats on all other eligible bodies would be delegated each body or a subcommittee thereof.  

BACKGROUND: (CONT'D)
  
The purpose of the TOC is to review the County's investment policy; regularly monitor the County Investment Pool's performance; and report on the pool's performance to the Board of Supervisors.
  
The TOC is composed of two ex-officio and seven appointed members: the County Treasurer; the Auditor-Controller; one representative appointed by the Board of Supervisors; the County Superintendent of Schools or designee; one representative selected by a majority of the presiding officers of the governing bodies of the school districts and the community college district in the county; one representative selected by a majority of the presiding officers of the legislative bodies of the special districts in the county that are required or authorized to deposit funds in the County Treasury; three members of the public, a majority of whom shall have expertise in, or an academic background in, public finance and who shall be economically diverse and bipartisan in political registration.  
  
The IOC conducts the application and interview process for the three public member seats and the BOS representative seat.  
  
On May 15, 2018, the TOC adopted amendments to its Bylaws, in part, to add an alternate member for each of the appointed and elected positions in order to ensure a quorum for each of its regularly held meetings. On June 26, 2018, the Board of Supervisors approved the amended bylaws.  
  
Accordingly, the IOC on December 10, 2018 interviewed and recommends the appointment of Parm Sandhu to the Board of Supervisor’s Alternate seat to the TOC. Mr. Sandu's application is attached.  
  
A copy of the latest TOC Bylaws and meeting place and calendar are available on line.

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